In the third quarter of 2023, the Bulgarian economy experienced a 0.4% growth compared to the preceding quarter, maintaining a similar growth pattern seen earlier. Announced by the National Statistical Institute (NSI), the economic expansion, measuring 1.8% annually, remains consistent with the previously estimated 1.7%, showing a slight decline from the 2% growth in the…
Discussions surrounding the state budget for 2024 are scheduled to kick off in the coming week during plenary sessions, with amendments to tax laws set for review on December 7, as confirmed by Finance Minister Assen Vassilev and National Assembly’s Budget and Finance Committee Chair, Yordan Tsonev. The decision for these discussions follows a meeting…
Bulgaria’s Finance Minister, Asen Vassilev, addressed concerns about potential fuel shortages following “Lukoil’s” deliberations on selling its business in the country. The reassurance came during Vassilev’s visit to the “Capitan Andreevo” border crossing alongside European Commissioner Mareid McGuinness. Vassilev clarified that the ministry had received prior indications of Lukoil’s contemplation of selling its Burgas-based refinery.…
Travelers departing from Sofia Airport now have access to convenient and eco-friendly drinking water, thanks to the installation of three new “smart fountains” in the pre-departure areas of Terminals 1 and 2. These modern fountains, equipped with sensor-controlled jets, allow passengers to easily fill their bottles or glasses and directly consume water, mirroring the initiatives…
The Bulgarian Association of Software Companies (BASSCOM) announced their annual Barometer report, marking a historic forecast for the nation’s software sector. Projections unveiled during the event indicated a remarkable milestone: an expected surge in revenues to surpass BGN 8 billion in 2023, an unprecedented achievement for the industry. The Barometer, a long-standing yearly publication offering…
The Organisation for Economic Co-operation and Development (OECD) has revised Bulgaria’s economic growth forecasts in its latest World Economic Outlook report, signaling a 1.7% growth rate for 2023, slowing due to external factors, with a projected acceleration to 2.8% in 2024. Initially anticipating a 1.9% GDP growth for 2023 and 3.2% for 2024, the OECD’s…
In a recent report released by the National Statistical Institute (NSI), November witnessed a diverse range of shifts in Bulgaria’s business climate index across significant industries. The overall business climate index for the month settled at 21.6%, reflecting a marginal decline from the preceding month’s figure of 22%. The composite indicator gauging the “business climate…